Driehaus Capital Management LLC Has $38.64 Million Stock Holdings in Travere Therapeutics, Inc. (NASDAQ:TVTX)

Driehaus Capital Management LLC increased its stake in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 608.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,217,975 shares of the company’s stock after buying an additional 1,904,733 shares during the period. Driehaus Capital Management LLC owned 2.84% of Travere Therapeutics worth $38,637,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its stake in shares of Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock valued at $41,000 after acquiring an additional 2,115 shares during the period. R Squared Ltd bought a new stake in Travere Therapeutics during the 4th quarter worth about $53,000. Summit Investment Advisors Inc. lifted its position in Travere Therapeutics by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company’s stock valued at $138,000 after purchasing an additional 667 shares during the period. Victory Capital Management Inc. bought a new position in shares of Travere Therapeutics in the 4th quarter valued at about $182,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Travere Therapeutics in the 4th quarter valued at about $192,000.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Travere Therapeutics from $22.00 to $23.00 and gave the company a “hold” rating in a report on Friday, May 2nd. Evercore ISI raised their price target on Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of Travere Therapeutics in a report on Friday, May 2nd. JPMorgan Chase & Co. raised their target price on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group boosted their target price on Travere Therapeutics from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.79.

Travere Therapeutics Trading Up 1.0 %

TVTX opened at $20.44 on Friday. The stock has a market capitalization of $1.81 billion, a P/E ratio of -4.98 and a beta of 0.88. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics, Inc. has a 12 month low of $6.01 and a 12 month high of $25.29. The firm’s fifty day simple moving average is $18.06 and its 200 day simple moving average is $18.80.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.08. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The company had revenue of $81.73 million during the quarter, compared to analysts’ expectations of $77.44 million. During the same period in the prior year, the firm earned ($1.76) earnings per share. Travere Therapeutics’s revenue for the quarter was up 83.3% compared to the same quarter last year. As a group, research analysts anticipate that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Insider Activity

In related news, SVP William E. Rote sold 5,200 shares of Travere Therapeutics stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total value of $122,356.00. Following the sale, the senior vice president now owns 98,519 shares of the company’s stock, valued at approximately $2,318,152.07. The trade was a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sandra Calvin sold 54,244 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $1,356,100.00. Following the transaction, the chief accounting officer now directly owns 54,410 shares of the company’s stock, valued at $1,360,250. This trade represents a 49.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,420 shares of company stock worth $2,302,575 over the last ninety days. Insiders own 4.19% of the company’s stock.

Travere Therapeutics Profile

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.